Kitchener-Waterloo

Waterloo Region housing starts down in May

Housing starts were down slightly in Waterloo Region this May, compared to the same time last year as starts for new apartment and townhouse buildings have declined in favour of more single-detached homes, according to new numbers from the Canada Mortgage and Housing Corporation.
Housing starts in Kitchener, Cambridge and Waterloo are down slightly in May of 2016, compared to the same time last year mostly due to a decline in construction of new apartment units, according to the Canada Mortgage Housing Corporation. (Reuters)

Housing starts were down by 16 per cent in Waterloo Region this May, compared to the same time last year as starts for new apartment and townhouse buildings have declined in favour of more single-detached homes, according to new numbers from the Canada Mortgage and Housing Corporation. 

The numbers released by the Crown Corporation Wednesday suggest that builders started 266 new housing units in May of 2016, compared to 350 at the same time last year. 

The largest decline was in new apartment and townhouse projects, with 104 new units under construction in May of 2016, versus 288 at the same time last year. 

The CMHC said Wednesday that 162 new single-detached homes were under construction in May of 2016, compared to 84 at the same time last year. 

The change in building activity was most noticeable in Waterloo, where the CMHC says the number of new apartment units under construction fell to zero in May of 2016, compared to 211 at the same time last year. 

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